Shop now Shop now Shop now Shop Black Friday Deals Week in Fashion Cloud Drive Photos Shop now Amazon Fire TV Shop now DIYED Shop now Shop Fire Shop Kindle Paperwhite Listen in Prime Shop Now Shop now

Customer Reviews

4.2 out of 5 stars24
4.2 out of 5 stars
Your rating(Clear)Rate this item

There was a problem filtering reviews right now. Please try again later.

23 of 23 people found the following review helpful
on 1 May 2007
A friend bought this book for me after my father went into a care home and we decided that we didn't want the family money to go to the taxman. I found this book very useful, especially the chapters on capital gains and property. The author writes very clearly and there are lots of boxes and charts and checklists so the daunting subject of inheritance is made very simple indeed.

Overall I would recommend this book to anyone trying to sort out their finances in later life.
0CommentWas this review helpful to you?YesNoReport abuse
6 of 6 people found the following review helpful
TOP 1000 REVIEWERon 20 September 2012
Format: PaperbackVine Customer Review of Free Product( What's this? )
This is a well presented book and it's broken down into 11 clearly outlined and labelled chapters, making it easy to search for pertinent information and navigate from one tax area to another. So, for anyone not totally clued-up on personal taxation (of whom I think there must be many) I think this would be a very good place to start.

Nonetheless, I found this book still suffers from a dryness in its delivery which I suppose is understandable due to its very dry subject matter as I don't think it is written in a form that's as accessible as some other reviewers have stated. This criticism applies especially to the aspects where calculations are used as the book assumes the reader has already gained a sufficient proficiency in figure-work; being able to gross sums up or dealing with percentages, as I found I had to read some of these paragraphs a few times before I felt I understood what was being said.

That said, and I know the above sounds more negative than I intended, but I believe everyone should give this book a read-through at least once, not only will it provide far more information than you think you need to know, it may do as it's done for me and act as a stimulus to contact a financial advisor (I believe I'm now at least primed and I'll actually understand what the advisor says). After all, you never know when your last day is going to be and if you've not made plans your loved ones could be left battling the HMRC over tax on your estate, and who would want that?
0CommentWas this review helpful to you?YesNoReport abuse
6 of 6 people found the following review helpful
on 6 September 2012
Format: PaperbackVine Customer Review of Free Product( What's this? )
Everything you would expect from Which. Sensible, straightforward and worthy.

Answered some of the basic questions clearly and concisely.

I only gave it three stars as:

1. It is slightly on the Janet and John side of things.
2. There is a lot of advising that you should get specialist advice.

Would have had four stars if they had taken things a step further when doing the 'specialist advice' if it had said and here are a check list of things to ask/consider when talking to the specialist adviser.
0CommentWas this review helpful to you?YesNoReport abuse
3 of 3 people found the following review helpful
VINE VOICEon 22 September 2012
Format: PaperbackVine Customer Review of Free Product( What's this? )
I am one of those people who avoids looking at inheritance tax and the related laws because they are convoluted. After reading the "which?" guide on "giving and inheriting" I realise that I was right -but there is a big "but". The "which?" guide is well laid out and full of practical WORKED examples.
How you can reduce the chances of Inheritance Tax (IHT)by giving away gifts- to both relatives or bodies such as the National Trust.
That there is an IHT threshold -£325K - which can be reached quicker in the south of England where average house prices can exceed this IHT threshold (e.g. London average price is nearly £600K) - this is before you look at other assets that you may have like savings or that expensive painting on the wall.
The book describes how you can gift year on year and in some cases, how nobody is affected as long as you don't pop your clogs in less than 7 years! Giving cash rather than other assets.
The other area that this guidebook covers is Capital Gains Tax (CGT)-giving someone a gift to reduce the chances of CGT. How you can gift wedding cash upto £5K -without IHT to be paid.
How you can also use trusts to take money out of your estate -and still have strings attached -for example, when a beneficiary reaches a certain age before they can get their hands on the wad. Also if you inherit some assets which have a millstone of IHT and/or CGT then you can pass on this problem to someone else.
What methods you can use with regard to children in terms of ISA's or National Savings. Also how you can sign up to Gift Aid to let a charity etc recoup the tax -as long as you pay tax.
From chapter 7 - after laying out all of the main areas of asset liability- the guide sets out strategies regarding inheritance planning -which is another phrase for reducing the wad the tax man gets.
There is a large section on ensuring that you have a robust Will which ensures that any assets you have are maximised to those who gain from your wishes.
Overall, the "which" guide is well laid out especially as it relates to a fairly dry subject which a lot of us avoid.
I have certainly found the guide very helpful and it has made me do a few sums -albeit on quite a low asset total!
If, like me, you have not looked at any books about IHT, CGT etc, then I recommend that the "which?" guide on "Giving & Inheriting" is a very good place to start
0CommentWas this review helpful to you?YesNoReport abuse
2 of 2 people found the following review helpful
on 19 September 2012
Format: PaperbackVine Customer Review of Free Product( What's this? )
This is not an exciting book, but then it's not really an exciting topic. It is, however, a good introduction to the tax issues that need to be considered when making gifts during your lifetime and when planning your will. It's not a DIY will-writing book, as it only addresses the financial and tax side of things.

It's attractively laid out, with plenty of short examples scattered throughout the text. The author has done a good job of making a rather dry subject seem interesting. I did find it a little repetitive in places, and felt the whole book could usefully have been condensed into a shorter work. A basic knowledge of financial concepts and tax is required, but most people who would consider reading this book probably already possess this.

It doesn't present highly elaborate tax avoidance schemes; on the contrary, it (sensibly) cautions against them, on the grounds that the government usually tries to close them down soon after it becomes aware of them.

I would be a little nervous of making financially important decisions solely based on advise from this book because tax law changes from year to year (already, the edition I read contains out of date numbers). A lawyer would be better placed to provide relevant, bespoke advice. However it can provide a good starting point for thinking about giving and inheritance, from which to decide when and where professional advice could be beneficial. I found it helpful.
0CommentWas this review helpful to you?YesNoReport abuse
2 of 2 people found the following review helpful
VINE VOICEon 17 June 2013
Format: PaperbackVine Customer Review of Free Product( What's this? )
As an accountant giving tax advice, I was interested to see how this latest Which guide shaped up.

Inheritance Tax is a slippery little sucker, as it brings into play all sorts of other tax considerations, including income tax, capital gains tax and stamp duty as well as areas not traditionally dealt with by accountants such as state benefits.

I found this book gives an easily understood summary of the key facts.

Sometimes it repeats them when relevant to a particular issue, and this has to be applauded. It is how discussions with clients nearly always pan out.

Also, they aren't just pitching this at the wealthy. Now that the IHT threshold has been frozen for a while, many households, and grandparents in particular, need to review their financial circumstances on a regular basis.

Whether you want to use this book to make some plans of your own, or you are an daviser wanting an easy reference text, this is well worth considering before some of the more academically written guides.
0CommentWas this review helpful to you?YesNoReport abuse
2 of 2 people found the following review helpful
VINE VOICEon 27 September 2012
Format: PaperbackVine Customer Review of Free Product( What's this? )
I highly rate all "Which" publications and this book is accurate and does cover the basics.

However I took off 1 star because I do not feel that ths book includes enough information and refers the reader to legal advice or to alternative publications. I found this dissapointing as I could not complete my will using this book alone. Maybe I am expecting too much but that is what I expected. The basics of inheritance, will writing, capital gains tax and miniming the inheritance tax are skimmed over. Therefore the book does give a good starting point but unfortunately lacked in the extra detail.
0CommentWas this review helpful to you?YesNoReport abuse
on 25 February 2013
I consider this book to be weak on the subject of inheritance tax, mainly because I do not believe the section on taper relief on gifts made within 7 years of death is accurate. It does not point out that taper relief applies only when the sum given away exceeds the threshold. Someone reading it would form the impression that it they give away say £10,000 and that when the die their remaining estate will exceed the current threshold of £325,000 the tax due on the £10,000 will start to reduce after they have survived 3 years, and will be zero by the time they have survived for 7 years. But I do not believe that to be correct. Because the £10,000 is below the threshold it will be added to the estate on death whenever death occurs unless death is more than 7 years after the gift. If this criticism is valid, and I believe that it is, then it constitutes a very serious shortcoming.

It also states that gifts to political parties are exempt if the party has at least 2 MPs or at the most recent general election polled more than 150,000 votes. The correct rule, as given on the HMRC website, is:

"A gift to a political party qualifies for exemption from inheritance tax if at the last general election preceding the transfer either two members of the party were elected to the House of Commons, or one member of the party was so elected and not less than 150,000 votes were given to candidates who were members of that party".

I have no comment on the accuracy or otherwise of other aspects of this book
0CommentWas this review helpful to you?YesNoReport abuse
VINE VOICEon 3 September 2012
Format: PaperbackVine Customer Review of Free Product( What's this? )
This brilliant book will allow anyone who has contemplated their own demise to do just that. It is clear, concise; with an excellent summary placed before and after each section so that one can decide which aspects of planning are relevant to individual circumstances, quickly and easily. Once the relevant aspects have been identified, there is just the right amount of detail within each section to provide for a coherent strategy. There are useful examples throughout.

Like most people, I see Inheritance Tax as an unfair tax and I am keen to keep my payments of such tax to a minimum so that the people who I would like to benefit, can do so without the taxman taking a share. When I left for medical school at the age of 18, I had a premonition that my Alsatian would not be still alive upon my return. Little did I know that this, sadly, would also apply to my dad. Even worse, however, was the fact that he died without making a will and despite him being a keen investor, nothing could be touched and my poor mum nearly starved: for bills kept rolling in, but no income. This scenario is most definitely not advised.

The book not only discusses how to pass on as much as possible without incurring the sweep of the Taxman's scythe, but it also clearly discusses what happens if we die intestate. I have to confess, at this point, that I have not, as yet, made a will; but this book will shame and guide me in to such a strategy and constantly remind me not only of the minimum that one should do before falling off the perch and why; but will also illustrate efficient and elegant ways of navigating tax law easily, unequivocally and transparently. See, I am talking like an accountant already. Essential reading for anyone who knows that not just taxes are inevitable! With many thanks.
0CommentWas this review helpful to you?YesNoReport abuse
2 of 2 people found the following review helpful
on 13 March 2013
Covers the subject in sufficient depth that the whole subject can be addressed in a logical and comprehensive way. Very well written and as with Which? guides, it is easy for the lay person to understand.
0CommentWas this review helpful to you?YesNoReport abuse
Customers who viewed this item also viewed
Wills and Probate (Which? Consumer Guides)
Wills and Probate (Which? Consumer Guides) by Consumers' Association (Paperback - 1 Mar. 2004)

How to Save Inheritance Tax
How to Save Inheritance Tax by Carl Bayley (Paperback - 13 Jan. 2014)


Send us feedback

How can we make Amazon Customer Reviews better for you?
Let us know here.